Friday, May 11, 2012
By Hassan Hafidh
Of DOW JONES NEWSWIRES
(Adds prices table, Kirkuk crude prices.)
AMMAN (Dow Jones)--Iraq's State Oil Marketing Organization, or SOMO, has raised the June official selling price for its Basra Light crude destined to the U.S. and Europe, while it cut the price for customers in Asia, SOMO said Friday.
SOMO said the price for Kirkuk crude to buyers in the U.S. and Europe was raised.
Basra Light Crude prices for U.S. customers in June were raised by $0.10 a barrel to $1.80 a barrel below the Argus Sour Crude Index, or ASCI, from minus $1.90 a barrel in the previous month, SOMO said.
The June official selling price for Basra Light for European customers was raised by $1.60 a barrel to $4.50 a barrel below Dated Brent, from minus $6.10 a barrel in the previous month, it said.
For buyers in Asia, SOMO cut the price of its Basra Light in June by $1.60 a barrel to $0.25 a barrel below Oman/Dubai quotes, from $1.35 a barrel above Oman/Dubai in May, it added.
Iraq raised June Kirkuk crude prices to customers in the U.S. to $0.50 a barrel above ASCI, from $0.35 a barrel above ASCI in the previous month, SOMO said
For buyers in Europe, SOMO raised the June Kirkuk prices to $2.30 a barrel below Dated Brent, from minus $3.50 a barrel in May, it added.
Basra Light June May Change
U.S buyers -$1.80 -$1.90 +$0.10
European buyers -$4.50 -$6.10 +$1.60
Asian buyers -$0.25 +$1.35 -$1.60
Kirkuk
U.S buyer +$0.50 +$0.35 +$0.15
European buyers -$2.30 -$3.50 +$1.20
-By Hassan Hafidh; Dow Jones Newswires; +44-20-7842-9333; resourcesdesklondon@dowjones.com
(END) Dow Jones Newswires
11-05-12 0824GMT
